It's been a humbling year for Eike Batista, who lost the title of Brazil's richest man as prices plummeted on five of his six publicly-traded holdings. The biggest crash occurred at oil and gas driller OGX Petroleo e Gas: The value of his 61% stake was worth $3.7 billion in mid February, down from nearly $19.9 billion a year earlier. Altogether, over the past 12 months Batista's assets shed nearly two-thirds of their value, or $19.4 billion, making him the billionaire with the biggest drop in net worth. In March 2012, before his stocks began falling, Batista sold a 5.6% stake in his umbrella EBX Group to Abu Dhabi government investment fund Mubadala for $2 billion. In May 2012 he sold a 0.8% stake in EBX to U.S. conglomerate GE for $300 million. Needless to say, Batista is no longer boasting loudly about overtaking Carlos Slim of Mexico as the world's richest man. More »

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